Malaysia’s national electricity utility, Tenaga Nasional Berhad (TNB), is a leading utility company in Asia with international presence in the United Kingdom, Kuwait, Turkiye, Saudi Arabia, Pakistan, India and Indonesia.

In aspiring to be one of the top ten utilities by market capitalisation in the world, TNB has undertaken various corporate restructuring initiatives over the past eight years, accompanied by refined strategic thrusts to expand momentum.

In 2021, TNB announced the formation of the New Energy Division (NED) to drive its renewable energy (RE) portfolio growth. TNB’s appetite for RE assets has grown significantly over the past few years to expand target markets across 3 regions: Europe, South-East Asia (SEA) and Asia-Pacific (APAC).

NED is positioned as an integrated RE Company with an end-to-end presence across the RE asset value chain. The strategy allows TNB’s RE capacity to grow sustainably while developing talents that enhance the overall talent pool and contribute towards nation-building.

These are aligned with Malaysia’s push to achieve push to achieve 31% installed RE capacity by 2025 and 40% by 2035. Recent announcements by the Minister of Natural Resources, Environment and Climate Change (NRECC) and the Minister of Economy indicate a target of 70% installed RE capacity by 2050.

Below, we explore key milestones in NED’s history, leading up to its strengthened focus today.